A service powered by the Consileon Group

Nachhaltigkeitssiegel im Finanzmarkt

Towards Sustainability label

What stands behind the label?

In November 2019, the Belgian Central Labelling Agency awarded the first Towards Sustainability labels to financial products that meet the quality standard for sustainable and socially responsible financial products.

This is based on a quality standard developed on the initiative of Febelfin, i.e. the Belgian financial sector association, in consultation with a wide range of stakeholders from the financial sector and civil society. More than 85 financial institutions from over ten countries are currently involved in the Towards Sustainability Initiative.

What are the key points of the label?
Key points
Disclosure of the sustainability criteria for the award of the label

The underlying aspects of the quality standard are described in detail. Accordingly, a sustainable financial product must use following strategies: ESG integration, normative screening, exclusion criteria and at least one additional qualitative strategy.

Key points
Independence of the organization awarding the label

The Central Labelling Agency (CLA) is a non-profit association established under Belgian law.

Key points
Multiple-step process when the label is awarded by a number of parties

An independent auditor is assigned for the technical and in-depth review of the alignment of the products to investigate the listing to the label. The auditor is a consortium consisting of Forum Ethibel, ICHEC Brussels Management School and the University of Antwerp.

Which financial products are evaluated with it?

Investment funds, index products, insurance funds and savings products receive the Towards Sustainability label. Over 700 products have been awarded the label. Click on the button to go to the Towards Sustainability website and discover the financial products awarded with the label.

Source: Central Labelling Agency (CLA) of the Belgian SRI Label